DNO DNO ASA Class A

Key Information Relating to Full Redemption of Bond DNO04

Key Information Relating to Full Redemption of Bond DNO04

Issuer: DNO ASA

ISIN of bond loan: NO0011088593

Original maturity date: 9 September 2026

New maturity date: 10 April 2025

Redemption price: 102.3625% (plus accrued but unpaid interests)

Record date: 8 April 2025

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DNO ASA is a Norwegian oil and gas operator active in the Middle East, the North Sea and West Africa. Founded in 1971 and listed on the Oslo Stock Exchange, the Company holds stakes in onshore and offshore licenses at various stages of exploration, development and production in the Kurdistan region of Iraq, Norway, the United Kingdom, Côte d'Ivoire, Netherlands and Yemen. More information is available at

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act, and published in accordance with section 6.2.2 of Euronext Oslo Rule Book II.



EN
27/03/2025

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Reports on DNO ASA Class A

Steffen Evjen
  • Steffen Evjen

DNO (Hold, TP: NOK15.00) - Time for a breather

We estimate Q1 net entitlement production of ~39kboed and EBITDA of USD119m (no reliable consensus). While the proposed Sval Energi acquisition (expected to close mid-year) should increase DNO’s North Sea production from ~20kboed to ~80kboed, we believe a spin-off would likely be required to get full valuation credit for the acquisition. Meanwhile, a resumption of oil exports from Kurdistan appears to be gridlocked, and DNO and its partners lack certainty on historical and future payments. Follo...

Steffen Evjen
  • Steffen Evjen

Valuation update

In this note, we show updated valuation statistics for the E&P sector.

 PRESS RELEASE

Mandatory Notification of Trade

Mandatory Notification of Trade Please refer to the attached forms of notification of transactions by primary insiders under the DNO ASA Employee Synthetic Share Program. This notification has been submitted pursuant to the Norwegian Securities Trading Act § 5-12 and MAR Article 19 no. 3. Attachments

Steffen Evjen
  • Steffen Evjen

Weekly news, topics & discussion

This week, we published a note on the harsh reality of USD70/bbl for our coverage. While investors appear to be positioning for lower oil prices, we believe consensus FCF estimates for NCS large caps remain overly aggressive. Meanwhile, DNO announced a discovery at the Kjøttkake prospect, north-west of Troll, adding ~NOK0.8/share (~4%) to DNO’s NAV and ~NOK1/share to Aker BP’s (

Stephane Foucaud
  • Stephane Foucaud

AUCTUS ON FRIDAY - 28/03/2025

AUCTUS PUBLICATIONS ________________________________________ Condor Energies (CDR CN)C; Target price of C$5.60 per share: Production rises again. Maiden reserves report. First LNG sales in Kazakhstan on track for 1H26 – YE24 2P reserves in Uzbekistan were estimated at 18.5 mmboe. 4Q24 production was 10,511 boe/d increasing to 12,019 boe/d in March to date and 12,288 boe/d over the past five days. In March, Condor signed a non-binding letter of intent outlining the basic terms and conditions for ...

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